BTC / USD pair broke major down-trending resistance 4 days ago. After quite a substantial run up, BTC is now consolidating just under the mean.. We have seen one fake-out, but there was not enough volume push it well over the mean. I currently see a cup and handle pattern, we are now consolidating inside of the handle. It's very important - so cloce to the mean - that we find enough support to push it over the edge. Looking at market cycles, I would say we are recovering from the dispair state.
If we don't see any supporting volume coming days, we might go a bit down again. I'm however bullish and hope to see a bull-market (like last year) again soon.
If we don't see any supporting volume coming days, we might go a bit down again. I'm however bullish and hope to see a bull-market (like last year) again soon.